The Essential Steps For Buying A Home

by | Jul 6, 2015 | Real Estate

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In Iowa, prospective home buyers receive several advantages by hiring a real estate agent to help them find the right property. By working with a professional, you can select a home based on vital factors that you may not otherwise be aware of. This could include the year in which it was built or its dimensions. If you are ready to review available real estate in Ames today, you should Click here for more information.

The Buying Process
The first step in the buying process is to contact your mortgage lender and acquire a pre-approval for finances. This evaluation presents you with the highest value you could borrow to purchase a home. It also provides you with information such as the down payment amount you’ll need to pay to acquire a mortgage. By acquiring this approval, your agent can help you find a property that allows you to remain within your budget and prevent the potential for delays.

The Property Inspection
All mortgage lenders require a property inspection for all existing structures. However, if you choose a new construction, you can avoid this process. If this isn’t the case, you’re responsible for hiring an inspector to evaluate the property and report their findings. Any issues that are discovered must be remedied by the seller. Alternately, you could acquire a reduction in price & if you choose to perform the repairs yourself. The only drawback is that you’ll have to repair these issues before you can move into the property.

Assessing Insurance Requirements
When you buy real estate in Ames today, you must fulfill all obligations associated with insurance. In most cases, you’re required to purchase homeowner’s insurance only. However, if the property is situated in a known flood zone, it is necessary for you to purchase an additional policy to provide adequate coverage.

The purchase of a new home is an exciting venture. However, it does come with several essential steps that you must follow. A real estate agent can help you with this process and protect your interests from selection to closing. If you wish to purchase an Iowa property today, contact your preferred agent and schedule an appointment.